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European equity ETF turnover up by 1.3 per cent

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Exchange based equity ETF turnover rose by 1.3 per cent to EUR1.1bn in the week to 17 August, according to Deutsche Bank researchers Shan Lan and Aram Flores.

Exchange based equity ETF turnover rose by 1.3 per cent to EUR1.1bn in the week to 17 August, according to Deutsche Bank researchers Shan Lan and Aram Flores.

European fixed income ETF turnover rose by 6.6 per cent to EUR194.4m, with money market ETFs continuing to be the main focus.

In exchange based bond ETFs, db x-trackers II Eonia TR Index ETF has the highest daily turnover of EUR23.31m. Among the equity ETFs, iShares Dax (DE) has the highest daily turnover of EUR73.71m.

European regional ETFs were the leading product area with turnover of EUR341m accounting for 29.8 per cent of total ETF turnover, followed by style ETFs with turnover of EUR323m with 28.2 per cent of total turnover.

The Dax ETFs remain the dominant country products with total average daily volume of EUR143m across the five listed products and accounting for 12.5 per cent of all equity ETF volume.

Euro Stoxx 50 ETFs accounted for 16.7 per cent of turnover trading EUR191m per day with liquidity split across 13 ETFs and 36 different listings on nine exchanges.

The Deutsche Borse XTF platform has the largest market share with 37.5 per cent of total turnover. The Euronext NextTrack platform has 22.7 per cent market share. The LSE’s combined Italian Exchange and London market share is now 24.4 per cent.

Total European equity related AUM declined by 1.5 per cent to EUR89.5bn during the week. AUM for DJ Euro Stoxx 50 ETFs was EUR17.3bn accounting for 19.4 per cent of total European AUM. Fixed income ETF AUM rose by one per cent to EUR33bn.

Overall, the largest ETF by AUM was the equity based Lyxor ETF DJ Euro Stoxx 50 with AUM of EUR4.6bn. The largest money market based ETF by AUM was db x-trackers II Eonia TR Index ETF with AUM of EUR3.6bn.

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